ABB Is Said to Pick BofA, UBS for Potential Robotics Unit Deal
(Bloomberg) — ABB Ltd. has selected Bank of America Corp. and UBS Group AG to arrange a potential deal for its robotics unit, according to people familiar with the matter.
The banks are working with ABB on preparing for a spinoff or sale of the robotics business, said the people, who asked not to be identified as the information is private.
Deliberations are ongoing and more banks could be added at a later stage, the people said. Representatives for ABB, BofA and UBS declined to comment.
ABB in April said it plans to spin off and list the robotics unit in the second quarter of 2026. It was one of the first major strategic moves by the firm’s Chief Executive Officer Morten Wierod who wants ABB to focus on more profitable units, such as electrification, which is benefiting from soaring investments in data centers that are in demand because of the rise of artificial intelligence.
Bloomberg News reported earlier this month that the company is also exploring selling the unit, which could be worth more than $3.5 billion, as an alternative to the main spinoff plan.
The robotics unit accounts for around two thirds of ABB’s robotics and discrete automation division. It employs 7,000 people and runs manufacturing hubs in China, the US and Sweden. The latter is the birthplace of ABB’s robotics business.
The spinoff, if successful, will see ABB shareholders receive stock in the future listed company. The plan is to list the business in Sweden or Switzerland, though the Swiss manufacturer has not excluded other venues.
–With assistance from Vinicy Chan.
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